INSUBCONTINENT EXCLUSIVE:
As Gruh Finance gets ready to walk down aisle with Bandhan Bank, treasury officials at former are bracing for a slightly higher cost of
Housing Development Finance Corp
"Gruh may see a possible revision of its credit rating, given that its rating also factored in its status as a subsidiary of HDFC
But higher profitability owed more to fact that Gruh is a subsidiary of HDFC, a triple A-rated, premium mortgage company
visible on Gruh Finance bonds, which may face a rating downgrade
securities including bonds and commercial papers, show data from Value Research, a Delhi-based analytics company
More than half a dozen mutual funds, including UTI, ICICI Prudential, and SBI hold such debt securities, show data updated until November 30
Minority shareholders of Gruh (secured) may not share same level of excitement for Bandhan (that has seen super-fast growth, largely
obtain right pricing, said a dealer with direct knowledge of matter
But those investors did not want any distress sale.
